What was the average bid price for non-hydro energy storage systems in Q3?

In the first three quarters, the average bid price for domestic non-hydro energy storage systems (0.5C lithium iron phosphate systems) was 622.90 RMB/kWh, a year-on-year decline of 50%. While bid prices remained relatively stable in the first half of the year, they reached a historic low of 578.11 RMB/kWh in Q3, particularly in September.

How much bid cost recovery did batteries receive in 2024?

Batteries received $17.9 million of real-time bid cost recovery payments in 2024, representing 11 percent of total bid cost recovery to generators. In comparison, battery resources received 10 percent of all bid cost recovery paid to resources in the CAISO balancing area in 2023.

How much do batteries get paid for bid cost recovery?

At $17.9 million, real-time bid cost recovery payments to batteries represented 11 percent of all bid cost recovery payments in 2024. In comparison, batteries received nearly $28 million of real-time bid cost recovery in 2023, representing 10 percent of total bid cost recovery payments.

Which energy storage technologies are included in the 2020 cost and performance assessment?

The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.

How is the energy cost component of a storage Deb calculated?

The energy cost component of the storage DEB is calculated under the assumption that the resource performs one cycle of charging and discharging per day, and that it will charge during the least expensive continuous block of time during the day. Resources may have individualized variable bids to prevent charging in the current interval.

Does reducing bids increase battery dispatch?

Mitigation of bids potentially increased battery dispatch by an average of only about 35 MW per hour. DMM continues to find that some battery capacity used to meet resource adequacy requirements is unavailable to the market during consecutive hours with tight system conditions.